Institutional liquidation pressured local stock indices over the past week, with most of the leading shares in real estate, banks and telecommunications dropping, with one exception for Emirates NBD, on the impact of the continued emergence of more quarterly results for companies, especially the banks.
The shares of “Global Holding”, “First Abu Dhabi” and “Aldar” attracted 72% of the weekly liquidity, equivalent to 4.53 billion dirhams, while the shares attracted liquidity in 5 sessions amounting to 6.27 billion dirhams, of which 5.6 billion dirhams in the Abu Dhabi market, and 673.5 One million dirhams on the Dubai market.
The traded quantities of shares reached 1.2 billion shares, distributed by 741.7 million shares in Abu Dhabi, and 483.6 million shares in Dubai, and this came through the implementation of 19.3 thousand transactions.
The orientations of foreign investors (non-Arab) in the two markets varied within a week, with their tendency to buy in the Abu Dhabi market with a net investment of 44 million dirhams as a result of the purchase, while they headed towards liquidation in Dubai, with a net investment of 21.81 million dirhams as a result of sale.
Liquidations of investment portfolios amounted to 106.14 million dirhams as a result of the sale, (20.92 million sales proceeds in Dubai and 85.2 million dirhams from sales in Abu Dhabi).
The Dubai Financial Market Index closed in a weekly decline of 0.77% at 2605.38, affected by the decline in real estate, investment, transportation, insurance, communications and services stocks. The real estate sector fell 2.47% as a result of the decline of «Emaar Properties» 3.6%, «Emaar Malls» 2.6%, «Union Properties» 1.86% and «Diyar» 2.2% in contrast to the rise of «Damac» 0.84% and «Emaar Development» 1.47%.
The transport sector fell 2.5% as a result of a drop of “Aramex” by 3.45% and “Air Arabia” 1.5%, in contrast to a rise in “Gulf Navigation” by 2.8%.
The investment sector decreased by 1.7% due to the decline of “Dubai Investments” by 1.28%, “Dubai Financial” 2.75%, and “Shuaa Capital” 3.5%.
In contrast, the banking sector rose 1.15%, driven by a 3.75% rise in Emirates NBD, despite Dubai Islamic’s 1.5% decline.
Abu Dhabi Market
In a week, the Abu Dhabi Market Index decreased by 0.9% to the level of 6046.8 points, with the decline in the shares of banking, real estate, investment, telecommunications, insurance and commodities companies.
The banking sector retreated 1.09%, after First Abu Dhabi declined 1.52%, Abu Dhabi Islamic Bank by 1.83%, and Abu Dhabi Commercial rose 1.13%.
The real estate sector declined 3.2%, affected by the decline of “Aldar” by 3.31% and “Ras Al-Khaimah Real Estate” by 1.65%. The telecom sector fell by 0.84%, with the share of “Etisalat” dropping by the same amount.
The investment sector retreated by 0.93%, as a result of a decline of 0.87% by “International Holding”, by “Ishraq” by 4.8%, and by “Waha Capital” by 0.85%.
Conversely, the energy sector rose 0.06%, with Dana Gas increasing 2.86%, despite ADNOC Distribution falling by 0.66% and TAQA 2.16%.
In terms of weekly trading in the Abu Dhabi market, “Global Holding” came to the fore with a liquidity of 1.92 billion dirhams, closing at 90.7 dirhams, followed by “First Abu Dhabi”, which attracted 1.36 billion dirhams to close at the level of 14.24 dirhams, then «Aldar Properties» with trades of 1.25 billion dirhams Dirhams, closed at 3.51 dirhams.
«Emaar Properties» attracted the most trades in the Dubai market at a value of 170 million dirhams to close at 3.73 dirhams, followed by «Dubai Islamic» attracting 102.6 million dirhams of liquidity and closed at 4.45 dirhams, then «Emirates NBD» liquidity amounted to 74.3 million dirhams to close at 12.45 dirhams .
Highs and Lows
“National Takaful” recorded the highest weekly increase in the Abu Dhabi market by 16%, closing at 0.87 dirhams, followed by “Gulf Medical Projects”, rising by 14.95%, to close at 2.23 dirhams, then “Meethaq Takaful Insurance”, up 13.07% and closing at 0.848 dirhams.
On the contrary, EasyLace declined 14.46% and closed its price at 20 dirhams, followed by a 10% drop in “Foodco Food Products” to 2.16 dirhams, then “Baldco” by a decline of 7.56% to 0.208 dirhams.
In the Dubai market, “National General Insurance” registered the most increase by 13.36%, closing at 2.8 dirhams, followed by “Emirates NBD”, up 3.75% and closing at 12.45 dirhams, then “Emirates Refreshments”, which increased 2.84% to close at 4.7 dirhams.
On the other hand, “Salama Insurance” went down the most, by 13.63%, to close at 0.811 dirhams, followed by Emaar Properties, dropping 3.6% to 3.73 dirhams, and then Shuaa Capital, falling 3.5% to 0.627 dirhams.
Regarding trades by nationalities in the Abu Dhabi market within a week, Arab, Gulf, and foreign investors tended to buy with a net investment of 57.2 million dirhams as a purchase, of which 9.4 million dirhams were the proceeds of the purchase of Arabs, 3.6 million dirhams were obtained from the purchase of the Gulf citizens, and 44.1 million dirhams were obtained from the purchase On the other hand, the local investors tended towards liquidation, with a net investment of 57.2 million dirhams, as a result of the sale.
In the Dubai market, Arab and Gulf investors and citizens tended towards buying, with a net investment of 21.8 million dirhams as a purchase, of which 3.7 million dirhams were the result of the purchase of Arabs, 3.95 million dirhams were the result of Gulf buying, and 14 million dirhams were the sum of citizens’ purchases. On the contrary, foreign investors tended towards The liquidation, with a net investment of 21.8 million dirhams, proceeds from the sale.
In terms of investment portfolios, it has tended to liquidate within a week, with a net investment of 106.14 million dirhams from sale, of which 20.92 million dirhams were sold in Dubai, and 85.22 million dirhams were sold in Abu Dhabi.
On the other hand, individual investors tended to buy, with a net investment of 106.14 million dirhams from purchase, which was distributed by 20.92 million dirhams from purchases in Dubai, and 85.22 million dirhams from purchases in Abu Dhabi.